Hello All,
Today's Stock Pick : Godrej Properties Ltd.
This Stock is Investors Pick since a Long time, Growing Consistently and Considered as a reliable company in the field of Real Estate. According to my Knowledge the Company holds a Big Land Bank in Mumbai, which is highly priced at current value. Also the Company is merging it's few projects in itself, which will add to valuations.
The Delivery volume few days ago was very high and The quarterly results were also good with increase in Assets and profits.
We will look at the price movement on Technical Front.
Let's See the Chart (Monthly)
Monthly Chart shows Classic chart pattern formation the "Inverse Head and Shoulder" having Neckline around 375 levels, which will act as a big resistance in near future. Above the Levels of 375-380... we will see a big breakout in the stock price. As we have seen the Height of the head from Neckline is approximately 220 points or rupees.
If the price breaks out and sustains above 375 levels, we will see the price soaring to 590-600 levels within Next 10-12 months timeframe.
First and Most important part is Entry level,
Let's Move to Smaller Time frame as compared to the earlier one.
To Our Surprise, the stock price is moving in a rising channel and while moving in the channel, the price formed the same "Inverse Head and Shoulder" pattern again. The Neckline is around 350-352 levels, Price if bounced from current level and holds above the Neckline levels, we might see a quick move towards, 378, 400 and 440 levels. If this pattern is validated on daily timeframe, we will get a breakout on Monthly Chart also, Pushing the price further up towards our long term targets.
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Recommendations :
BUY GODREJ PROPERTIES LTD. Around 350-355 levels with a Stoploss around 320-325 levels (on closing basis) and a Price Target of 378, 400-402, 440 and above 440, 590-600 possible.
The Risk Reward is good enough to Keep invested... !!
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These are all Technical Views which are based on Daily Charts, indicating any price movement towards the Targets will take time and it is not expected to move in a Single day. So Do not enter with speculative bets in the trade. These recommendations are purely for Investment purpose.
Follow Strict Risk Management Before Entering the Trades and Consult your Investment Adviser for guidelines. "Do not jump in the trade" without considering the risk.
Enjoy Trading, Trade Safe, Trade Wisely !!
(#nse, #bse, #trading, #investing, #stockmarket, #options, #optionsmagician, #godrej, #godrejproperties, #goderejprop, #investment)
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Disclaimer :
The Analyst May or May not have trading positions or Investments in suggested Instrument, The Trade is Long Term and the Analyst may recommend the trade to his clients time to time for short term trading. short term reversal trades May be advised in this duration and it will be according to the charts.
The Analyst is a SEBI Certified Investment Adviser and Global Market Expert having Vast experience of Financial Markets in India and Across the Globe. Running Analysis Services and Advisory since Last 6 years for clients across the world in Stock Markets, Forex, and Commodities.
Contact Details ::
WhatsApp & Telegram +91 8275 298 208 / Email : 4x.magician@gmail.com
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